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Several Mining Companies Hold Plans New Mines Onstream
The global financial crisis and sharp falls in metals prices have forced several companies to abandon or put on hold their plans to bring new mines onstream.
Xstrata Copper and Gold Mining Project in the Philippines US$2bn
Global mining group Xstrata, which has coal and alloys operations in South Africa, on Wednesday confirmed that its US$2bn Tampakan copper and gold mining project in the Philippines had been raided and two buildings had been torched.
Communist rebels representing the New People’s Army claimed responsibility for the raid, saying its singular objective was “punishing [...]
Philippines’ Nickel Mining Company,Berong Nickel, eyes Chinese steel plant
The Philippines’ Berong Nickel Corp is looking at buying an integrated steel plant in China’s Guangxi province to produce nickel pig iron and stainless steel within one of its main markets.
Berong Nickel said on Tuesday it would do due diligence on the three-year old plant over the next six months before making a decision.
If it [...]
Golden Cycle Gold Corporation joint venture with AngloGold Ashanti
Golden Cycle Gold Corporation is pleased to announce the completion of the Mine Life Extension Pre-Feasibility Study at the Company’s 33% owned joint venture with AngloGold Ashanti (Colorado) Corporation, the Cripple Creek & Victor Gold Mining Company (”CC&V”). The successful completion of the study moved the mine life extension project into the formal feasibility [...]
Xstrata Extends Offer for LionOre
Xstrata plc announces the extension of the expiry time of its all-cash offer to acquire all of the LionOre Mining International Ltd. (”LionOre”) shares to midnight (Vancouver time) on 28 June 2007. Following Xstrata’s decision not to match the offer made by OJSC MMC Norilsk Nickel (”Norilsk”) to acquire all of the LionOre shares, LionOre [...]
RP on cusp of mining boom amid buoyant metals prices
Boosted by soaring ore prices, cheap capital and a more investor-friendly regime, mining companies are rushing in and snapping up tenements in the Philippines seeking to profit from the developing world’s industrial boom, experts say.
From majors like BHP Billiton, Anglo-American and Xstrata to bare-bones exploration outfits, they are betting hundreds of millions of dollars that [...]
Golden Cycle Gold Corporation Operations Update
Golden Cycle Gold Corporation is pleased to provide an update on corporate activities. The Cripple Creek & Victor Gold Mining Company (”CC&V”), the Company’s 33% owned joint venture with AngloGold Ashanti (Colorado) Corporation, experienced a prolonged drought over the fourteen months leading into June 2006. The drought caused reduced pregnant pond levels within Valley [...]
DENR adopts stricter process in approving mining contracts
The government has introduced a stricter procedure of approving mining contracts that gets foreign and local investors to answer to questions of national interest including benefits sharing and environmental protection in potential mining areas.
Department of Environment and Natural Resources (DENR) Secretary Angelo T. Reyes said that government has started an interview process in mining projects [...]
